Regeneron Announces $3 Billion Share Repurchase Program
13 November 2021 - 8:53AM
Dow Jones News
By Maria Armental
Regeneron Pharmaceuticals Inc.'s board has approved up to $3
billion more in stock repurchases, the company said Friday.
The authorization has no time limit, the company said. As of
Nov. 12, $1.8 million remained available for share repurchases
under a prior $1.5 billion share repurchase program authorized in
January.
"With the strength of our balance sheet and our business, we see
this as an opportunity to continue to invest in Regeneron," Chief
Financial Officer Robert E. Landry said in a statement.
Through Sept. 30, Regeneron reported a profit of $5.85 billion
on $11.12 billion in revenue, up from $2.36 billion on $6.07
billion in revenue for the comparable nine-month period a year
earlier.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 12, 2021 16:38 ET (21:38 GMT)
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